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Jul 2 2020, 09:20 IST/BST
Associated British Foods
Cash is king – Primark recovery in train
- Sectors : Foods
- Companies : Associated British Foods
DAVY VIEW
Associated British Foods’ (ABF) outlook statement points to a stellar cash performance as the global Primark estate resumes trading. The placement of c.£1bn of autumn/winter stock orders is a clear indication of Primark’s confidence. Considering the scale of dislocation across the retail sector, the statement illustrates the strong franchise value of the Primark brand. We reiterate our ‘Outperform’ rating.
